Serikin Border Market Now Cashless with Merchantrade eWallet

Merchantrade Asia has successfully registered over 100 merchants in Serikin, Sarawak, during the initial phase of its e-Duit @ Serikin campaign, launched in September 2023.

This campaign, a collaboration with Bank Negara Malaysia and Payments Network Sdn Bhd (PayNet), has transformed the Serikin weekend border market into Malaysia’s first cashless market.

Serikin Market with Merchantrade

Merchants now use Merchantrade Money eWallet, allowing digital payments via QR codes. The initiative promotes digital financial literacy, enhances payment convenience, and boosts the local economy.

The campaign also offers incentives like cash backs and lucky draws. Merchantrade plans to expand this digital inclusion model to other rural communities in Malaysia.

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Mr. Ramasamy K. Veeran, Managing Director at Merchantrade says, “The digital ecosystem we’ve developed with our innovative Merchantrade Money DuitNow QR solution has facilitated safer, more convenient payments for both the merchants and their customers. With the introduction of digital payments, we have observed an increase of digital financial literacy and a boost in the local economy of Serikin.”